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MYSQ Share Chat (MYSQ)



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JezTheFez
Posts: 3,583
Opinion:No Opinion
Price:0.00
RE: Email Reply.
18 May '19
Well this sounds a bit more encouraging. It does sound as though they are going to go after him and others who they believe did wrong here. Perhaps they were feeling more confident that they have a case against him following-on from his recent trial in Singapore. The big issue at the moment is a lack of money. If somebody can buy us out there may be some hope for us and it could even lead to a relisting on a stock exchange, perhaps an Asian one. It's good that we have a little bit more hope to cling on to. Keep it up, Chong. Do us proud.
 
mikey9997
Posts: 489
Opinion:No Opinion
Price:0.00
RE: Email Reply.
18 May '19
We can but live in hope, as long as the company is a going concern. This share is very much a 'back of the draw' asset now. It could fade away into nothing, or one day in a few years time, you might see some of your cash back. Don't count on it though, just ask for updates every few months, not much point more often than that - live your life. Nice to hear Eric is up **** creek though.
petham
Posts: 382
Opinion:No Opinion
Price:0.00
RE: Email Reply.
18 May '19
"The investigation is ongoing and will be more aggressively pursued once the Company
is in a better financial position to seek legal representation."

"There have been references in prior news articles that may be accurate."

The 2 sentences that stuck out to me.
petham
Posts: 382
Opinion:No Opinion
Price:0.00
Email Reply.
18 May '19
After 2 years I got my 1st reply. I find it encouraging that they intend to pursue more aggressively in the future and this is not a dead duck yet. Also I'm not sure it would be a good idea for the company to give out erics where abouts even if they knew..... if something terrible was to happen to eric before he gets sentenced maybe they could be liable?
Of course it could be a smoke screen for an exit strategy but I don't think so and the games are still going strong.

Is the company not insured against such losses?

Thank you for your email. Apologies for the late reply, however the Company did not have any new updates prior.

Due to the lower cash reserves the Company is focused on stabilising. The investigation is ongoing and will be more aggressively pursued once the Company is in a better financial position to seek legal representation.

We do not know the current whereabouts or have any contact with any prior employees that you mentioned. There have been references in prior news articles that may be accurate.

A trading and corporate update was released today at https://investors.mysquar.com/trading-corporate-update-may/.

Best regards,

MySQUAR Investor Relations
JezTheFez
Posts: 3,583
Opinion:No Opinion
Price:0.00
RE: Only repy received
18 May '19
"the investigation is ongoing".

Does that mean they are investigating Schaer? Hmm interesting.....
There is a glimmer of hope that still remains here, but even if we were bought out, it is probably highly unlikely that we would seek to relist on a stock exchange any time soon.....not given our ailing financial position. Stranger things have happened when at sea though, so let's try and stay open-minded.
Docit
Posts: 1,115
Opinion:No Opinion
Price:0.00
Only repy received
18 May '19
Dear Mr. ..........
Thank you for your email.  Apologies for the late reply, however the Company did not have any new updates prior.
A trading and corporate update was released today at  https://investors.mysquar.com/trading-corporate-update-may/ .
We do not have any comment on any legal action as the investigation remains ongoing.

Best regards,
MySQUAR Investor Relations
Email: ir@mysquar.com
www.mysquar.com
On Sat, Apr 27, 2019 at 6:35 PM
jjjzac
Posts: 6
Opinion:No Opinion
Price:0.00
Update
17 May '19
17.05.2019)
MySQUAR Limited
("MySQUAR" or the "Company")

Trading & Corporate Update

MySQUAR, the Myanmar-language social media, entertainment and payments platform whose principal activity is to design, develop and commercialise Myanmar-focused internet-based mobile applications, announces today an update on trading and corporate developments following its delisting from the AIM Market on 10th December 2018.

Revenue Review
Revenue for the Company continues to fall in 3QFY2019 as business development and operations at MySQUAR continue at a minimal rate to conserve cash following the events disclosed in the RNS dated 5 November 2018. The following is the revenue review for 3QFY2019 and 9MFY2019 ending 31 March 2019:

Revenue USD (unaudited) 3QFY2018 3QFY2019 9MFY2018 9MFY2019
Mobile Games

352,195

92,842

1,182,176

633,182

Media & Mobile Apps

1,256

0

2,684

0

Mobile Games Division
A total of six games are still active at the end of 3QFY2019 (1HFY2019: 7 games). The MMORPG (massively multiplayer online role-playing game) “Land of Magic” was no longer generating meaningful revenue and has been discontinued. As cash generated from game operations barely covers operating costs and junior staff salaries, there are no funds available for marketing and promotion activities. This has resulted in the sharp drop seen in 9MFY2019 revenue as compared with 9MFY2018 revenue. No new game launches are possible until the Company's financial situation improves.

Media & Mobile Apps Division
As reported in the RNS dated 7 December 2018, with the exception of Mingalarbar Morning, all activities in the Media & Mobile Apps division have been temporarily suspended to conserve cash.

Performance Metrics

Selected User KPIs 3QFY2018 3QFY2019
Mobile Games

MAUs (Average)

366,753

161,371

User Acquisition Cost

$0.18

$0.00

ARPPU

$6.98

$7.59

Media & Mobile Apps

MAUs (Average)

109,314

127,934

User Acquisition Cost

$0.015

NM

Av. Pageviews Per Session

2.21

2.28

Av. Session Duration

1:24

1:00

Average Revenue per Paying User (ARPPU) for the Mobile Games Division increased in 3QFY2019 as compared to 3QFY2018 but ARPPU has actually decreased when compared with 2QFY2019 ($9.43 in 2QFY2019).

Similarly, whilst average monthly active users (MAUs) for Mingalarbar Morning increased in 3QFY2019 when compared to 3QFY2018, MAUs have actually fallen from 235,951 MAUs in 2QFY2019 (as disclosed in the RNS dated 18 January 2019) to 127,934 in 3QFY2019 due to a lack of funds available for marketing & promotion.

Status of the Company

MySQUAR continues to operate as a going concern and with the approval of the bond holder, MySQUAR has managed to secure a working capital loan of USD 90,000 to support operations. MySQUAR continues to seek financial support from third parties.

The Company and its bond holder continue discussions with a potential trade purchaser for the sale
jjjzac
Posts: 6
Opinion:No Opinion
Price:0.00
Update
17 May '19
New update out on the Mysquare website
goldminer21
Posts: 888
Opinion:No Opinion
Price:0.00
Chong's masterplan....
17 May '19
A bailout from Tencent? - or am I getting caught up in the old magic spell?
petham
Posts: 382
Opinion:No Opinion
Price:0.00
RE: Eric Schear
17 May '19
Thanks G21.

If I robbed a bank and whilst waiting to be tried in court I robbed a second bank then surely it would be relevant.
jjjzac
Posts: 6
Opinion:No Opinion
Price:0.00
Website
17 May '19
Now back online
goldminer21
Posts: 888
Opinion:No Opinion
Price:0.00
RE: Eric Schear
17 May '19
Petham, basically Eric and his brother went after wealthy German industrialist, Peter Eyckeler and his wife like a couple of sharks after money. In a smoke screen of charm, lies and bullshit by the two brothers Peter invested millions in Mysquar and Fastacash, only for it to disappear very shortly after.
jjjzac
Posts: 6
Opinion:No Opinion
Price:0.00
Mysquare website
17 May '19
Just checked the Mysquare website, it seems to be disconnected since yesterday.
petham
Posts: 382
Opinion:No Opinion
Price:0.00
RE: Eric Schear
17 May '19
G21..... I've not read the transcript yet but see that Mysquar is mentioned so surely the authorities or at least the prosecutors lawyer are aware he went on to steal funds a second time. Is it likely that he stole our money in case he lost this case? Did it arise during this case?
TheEventHorizon
Posts: 130
Opinion:No Opinion
Price:0.00
RE: Eric Schear
17 May '19
Is someone able to contact the plaintiffs legal team and present our case to them. They may be able to assist or even bring this fraud to the attention of the judge thus combining the cases...strike while the iron is hot...so to speak
Benrumpson1
Posts: 315
Opinion:No Opinion
Price:0.00
RE: Eric Schear
17 May '19
Lets hope the judge or some of his family have invested in this shister what a low life!
JezTheFez
Posts: 3,583
Opinion:No Opinion
Price:0.00
RE: Eric Schear
16 May '19
I know. You couldn't make it up if you tried! It's amazing how people behave when they are pushed into a very tight corner. What a weak, pathetic, desperate individual he really is. You can have a load of money in the bank, but all of it isn't going to stray away from the fact that he's hopefully going to be behind bars and picking soap bars off the ground. Dignity is priceless and that's something he'll never possess. By the way.....I want my 6 grand back and I will get it back one day.
goldminer21
Posts: 888
Opinion:No Opinion
Price:0.00
RE: Eric Schear
16 May '19
Its laughable that in the court transcript Schaer was trying to convince the judge that it was all the fault of the investor for investing in a failed business venture, while at the same time using RNS's and public media platforms to tell everyone that investing in Mysquar will give "tremendous value," while he was siphoning off cash out the back door.
JezTheFez
Posts: 3,583
Opinion:No Opinion
Price:0.00
RE: Eric Schear
14 May '19
He's left an awful lot of people between a rock and a hard place and I hope he gets what is coming to him. I would personally throw away the key so he doesn't get the opportunity to do it again. The others also need "investigating" in my opinion.
Sliotar
Posts: 971
Opinion:No Opinion
Price:0.00
RE: Eric Schear
14 May '19
This is sickening isn't it. I wonder if the financial authorities care here? Even though they said they were looking into it. Nothing since then!
JezTheFez
Posts: 3,583
Opinion:No Opinion
Price:0.00
RE: Eric Schear
14 May '19
So does this mean that he'll finally be picking up soap bars off the floor some time very soon? By the way......where's my £6k that you stole from me, you toe rag? I hear the inmates in Singapore are awful randy and quite butch. Just your type, I bet? Rot in hell you dream killer.
goldminer21
Posts: 888
Opinion:No Opinion
Price:0.00
RE: Eric Schear
14 May '19
Also Chong is telling us all that Mysquar hasn't and can't report Eric to any of the authorities because Eric is not domiciled in Singapore, yet here is Eric having being found guilty of defrauding an investor over substantial Mysquar investements in THE SINGAPORE INTERNATIONAL COMMERCIAL COURT OF THE REPUBLIC OF SINGAPORE!!
frol
Posts: 440
Opinion:No Opinion
Price:0.00
Dinerios
14 May '19
Bloody good question, not too sure anyone will have the answer though !!!
Dinerios
Posts: 430
Opinion:No Opinion
Price:0.00
RE: Eric Schear
13 May '19
So what happens with shareholders money that was stolen?
goldminer21
Posts: 888
Opinion:No Opinion
Price:0.00
RE: Eric Schear
13 May '19
Actually does anyone know if Schafer now gets jailed in Singapore for the crime of fraud?




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